Cit­i­zens Bank of­fers hol­i­day spend­ing tips

The Pak Banker - - Front Page -

PROV­I­DENCE, R.I

To help con­sumers man­age their fi­nances and avoid over­spend­ing, Cit­i­zens Bank is of­fer­ing shop­ping and spend­ing tips for the busy hol­i­day shop­ping sea­son that will be­gin with Black Fri­day and Cy­ber Mon­day on Novem­ber 23 and Novem­ber 26, re­spec­tively.

This year, the Na­tional Re­tail Fed­er­a­tion pre­dicts con­sumers will spend more than $586 bil­lion up 4.1 per­cent from last year dur­ing the busy hol­i­day shop­ping sea­son as they pur­chase gifts, dé­cor, greet­ing cards and other items.

It is easy to break the fam­ily bud­get by get­ting swept up in the ex­cite­ment of the hol­i­day sea­son, said Daniel K. Fitz­patrick, Pres­i­dent and CEO of Cit­i­zens Bank and RBS Cit­i­zens for Penn­syl­va­nia, New Jersey and Delaware.

We en­cour­age ev­ery­one to plan ahead and to adopt a dis­ci­plined ap­proach to shop­ping that can pre­vent over­spend­ing and un­planned debt. And these mea­sures will pay div­i­dends all year long not just dur­ing the hol­i­days.

To help con­sumers man­age their money, pre­vent the ac­cu­mu­la­tion of debt and make the most of their hol­i­day dol­lars, Cit­i­zens Bank sug­gests the fol­low­ing guide­lines: Build a bud­get To man­age your hol­i­day spend­ing, an im­por­tant first step is to cre­ate a re­al­is­tic bud­get that will help you to un­der­stand how much you can af­ford.

When you un­der­stand your spend­ing limit and what you want ver­sus what you have bud­geted, it makes it eas­ier to avoid im­pulse pur­chases that can sad­dle you with hol­i­day debt in the New Year.

Make a list Cre­ate a list of all of the peo­ple you would like to ac­knowl­edge dur­ing the hol­i­days and set a spend­ing limit for each name. Check your list against your bud­get and make ad­just­ments as needed. To stay within your bud­get, take this list with you as you shop.

Make a do­na­tion to char­ity In­stead of try­ing to find the per­fect gift, con­sider mak­ing a con­tri­bu­tion in some­one's name to a lo­cal char­ity.

Many char­i­ties gladly ac­cept gift do­na­tions that they will use to bring warmth and good cheer to those in need dur­ing the hol­i­days.

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